Samsung's de facto leader appears in court for historic trial

By Park Sae-jin Posted : August 25, 2017, 14:36 Updated : August 25, 2017, 14:57

[Photo by Namkung Jinwoong = timeid@ajunews.com]


The jailed de facto leader of South Korea's largest conglomerate, Samsung, was escorted into a courtroom for a historic trial that followed massive street demonstrations and attracted keen attention at home and abroad.

Samsung Electronics Vice Chairman Jay. Y Lee, wearing a white shirt and a dark jacket, stepped off a transportation bus and walked into the Seoul Central District Court in southern Seoul with an emotionless face.

During his short walk along the parking strip, Lee held up a large envelope, in an effort to cover his handcuffed wrists.
 

[Yonhap Photo]


On the road leading to the court guarded by hundreds of riot police, dozens of protestors in two groups demonstrated. One group led by union activists held up pickets with Lee's face printed on it and shouted slogans demanding legal justice.

The other group of conservative activists waved national flags, claiming Lee and ousted president Park Geun-hye should be released because they were wrongfully accused.

Prosecutors have demanded 12 years in prison for Samsung Lee on charges of providing bribes to Park's crony, Choi Soon-sil, in an attempt to facilitate the succession of group leadership from his bedridden father.

Lee has denied charges that he pledged some 43.3 billion won (38 million US dollars) in kickbacks and bankrolling the equestrian training of Choi's daughter in Germany. He insisted no strings have been attached to Samsung's cash donation to entities controlled by Choi.
 

[Yonhap Photo]


Top officials of the family-run conglomerates or "chaebol" have made regular court appearances on various charges. Some have received heavy jail terms, only for them to be pardoned or released on early parole.

Friday's verdict would affect Park's case because the disgraced former president faces bribery charges. Group officials have voiced concerned about a prolonged leadership vacuum.

Samsung has already put the break on the idea of revamping the structure of corporate governance to introduce a system controlled by a holding company. However, Samsung without Lee in control tower posted a record second-quarter profit of 11.53 trillion won (10 billion US dollars)

Since Lee's arrest in February, Samsung has thrown all its efforts into developing the new phone as redemption for its combustible Note 7 fiasco that has damaged its brand value and reliability. As a result, the South Korean tech giant has successfully released its latest smartphones Galaxy S8 series and Galaxy Note 8 in April and in August. Both phones have received high praises for their performances and quality. 

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